Last updated on August 30th, 2020 at 10:29 pm
Kudabank is an online bank known as Kudimoney in Nigeria Fintech Company that focused on loans.
It is meant to be a digital-only bank that runs predominantly on a smartphone. It worse rebranded in the year June 2019 after they got a banking license from CBN (center bank of Nigeria) to become a Kudabank a digital bank.
You can make payments, by sending a money link and by transfer and by transfer money and save as well on KudaBank. It also is currently available on Android and iOS devices.
Kudabank offers a checking account with no monthly fees and a free debit card with some plans. Underway to offers consumer savings and P2P payment options on the platform.
How to Register on KudaBank
To register on Kudabank, you need the following things
- Phone number.
- Email address.
- Bank verification number (BVN).
People often ask if Kudabank is a registered company. Yes, they are by the Central Bank of Nigeria and they also have a microfinance Banking License.
To get started click here to download the App. it will take you to the google play store.
Is there any limits on the premium account
Yes, there is. You can transfer up to 250,000 in a single transfer and you can make a transfer of 1 million max in a day. The limits don’t matter just make your transaction.
- By using POS you simply make a transaction up to 500 thousand.
- If you are making use of ATM you can single withdrawal 30 thousand
If you need help you can simply chat their customer care up.
Also Read: Send Money using Facebook
How to Send Money With a Payment Link on Kudabank
You can send money to any won you like by using your payment link to send money to your friends and family, that have an account by using your smartphone to transfer it and they will receive it immediately you make the transaction or if the transaction is Don.
I will explain the steps to take on how to send money with your payment link by using the Kudabank mobile app.
Step 1: if you log in to your Kudabank app you will Tap on Payments at the bottom for your kuda dashboard it will take you to the nest page.
Step 2: it will list some information you will tap on Payment Link it will take you to a new page.
Step 3: you will type in the amount you want to send and tap Nest
Step 4: you will be asked to protect your payment link with a four-digit PIN. So that anyone you share your link will need or ask you the PIN to claim the payment.
Step 5 you will now copy the link or share the payment link.
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How to Set Up a Savings Plan.
You can save toward a goal and earn up to 10% interest (Flexible Savings), and you can save a lump sum for a fixed time and earn up to 15% interest (Fixed Savings).
The process on how to save and the steps:
Step: 1 Login to your account, on the first page you will see Savings at the top of your page under your account balance on your Kudo dashboard click on the save.
Step: 2 Click on Save Now on the upper right corner of your screen, it will take you to nest page.
Step: 3 you will see Create a Goal at the top and you will see some option click on Spend+save it spill means (save a percentage every time you spend from your account) choose a savings plan and follow the prompts on the Savings screen.
How to Upgrade your Kudabank Account
You need to add a government-issued ID card and your Bank Verification Number (BVN) to remove limits from your account.
Please you need to take your time to read this first to learn everything about how to upgrade your account and our account levels rules and limits.
Step1 sign in to your Kudabank App and click on more at the bottom of your dashboard.
Step2 you will now click on Account Limits it will take the nest page click on Upgrade Account.
Step3 it will list some items like BVN, ID Image, ID Number I will explain on how to use them.
- Click on BVN and type in your bank verification number (BVN) and tap submit.
- Click on ID image, choose the kind of ID you have and upload a photo of the ID and tap submit.
- Click on ID Number and type in your identification Number and tap continue. Please take note of the position of the ID Number.
Account Levels, Rules and Limits
I will explain everything you need to know about Kudabank Account. There are three account levels in KudaBank and each level has it is own rules and limits. ). I will explain one after the order and how it work.
These are the three account levels we have: Tier 0 (T0), Tier 1 (T1), Tier 3(T3
Tier 0 (T0) if your account does not have a confirmed BVN (Bank Verification Number) and valid ID a driving license, Voters Card, international passport, national ID card, and NIN slip.
You don’t have all his I mention you are on Tier 0.
These are the Question that people do ask on Tier 0 Rules and Limits
- your account receive at a time?
- How much can you send from your account at a time?
- What is the maximum amount you can spend on a bill at a time?
- What’s your account balance?
- you add money to your account with a card?
No, you can’t.
- Can you send money to other banks,
No, you can’t.
- What is the maximum amount you can spend airtime at a time?
- Can you request a kuda card?
No, you can’t.
- Kudabank they give all their customers two (2) free transaction to other banks in a month. After the two transactions to other banks, you will be charged 10 naira per transaction.
- You all so have free deposits
- Kudabank account holders can deposit money over 10,000 branches across Nigeria for free.